Yamaha "fully expects" Rossi contract renewal

Rossi, who will turn 39 on Friday during the first day of the Thailand pre-season test, is yet to extend his existing contract, which will end at the end of 2018, his 19th season in the category.

While he previously stated that he was "optimistic" about continuing, his plan is to wait until the end of the pre-season tests, as well as the first few races of the year, before officially signing a contract.

Jarvis echoed Rossi's claim, saying that even though seven-time premier class champion is highly likely to continue for at least another year, nothing is done yet.

"I can assure you that nothing is done at the moment but I imagine it won't be too long until Valentino's situation is clarified and I fully expect him to be with us again on the grid next year," he said.

"Yesterday we were actually in Manila in Philippines for a promotional event and Valentino explained to the media there that right now he definitely has the intention and desire to continue.

"It is not yet clear whether he may decide to do a one-year contract or perhaps a two-year contract.

"We're in close contact, we talked to each other already and we decided that anyway we'd like to see a few tests at least under the belt before making a decision maybe a few races.

"It is difficult to say [when he signs the contract], I think these three tests are in important, obviously we've done one and Valentino is feeling comfortably straight away.

"We haven't set ourselves a timeframe at the moment."

Marquez: Competitive Rossi at 39 "impressive"

Reigning champion Marc Marquez has expressed his admiration for Rossi's ability to stay motivated and competitive at the age of 39, something "all riders want to do".

"It is something really impressive what Valentino is doing," he said.

"With [turning] 39 years old tomorrow, it is something impressive, something all the riders want to do because in the end, keeping the motivation, keeping the level during all those years, nobody did in the past.

"He is able every season to improve to keep the motivation, it is impressive.

Marquez, who will turn 25 one day after Rossi's birthday, jokingly added: "We hope that he doesn't improve more and more because he is already very fast."

Additional reporting by Oriol Puigdemont